Instructions:
Activate yeast: In a large bowl, combine warm milk, butter, sugar, and yeast. Let stand for 5 minutes, or until the yeast is foamy.
Mix dough: Add the egg to the yeast mixture and stir to combine. Gradually add 2 cups of flour and stir until well combined. Add salt and the remaining 2 cups of flour, 1/2 cup at a time, until the dough comes together and pulls away from the sides of the bowl.
Knead dough: Turn the dough out onto a floured surface and knead for 3-5 minutes, or until the dough is smooth and elastic.
First rise: Place the dough in a greased bowl, cover, and let rise in a warm place for 45-60 minutes, or until doubled in size.
Prepare filling: In a small bowl, combine the peach preserves and cinnamon.
Shape dough: Punch down the dough and roll it out into a 12×15 inch rectangle. Spread the peach preserve mixture evenly over the dough.
Roll and cut: Roll the dough up tightly from the long side, pinch the seam to seal, and cut into 1-inch slices.
Second rise: Place the cinnamon rolls in greased pie plates, cover, and let rise for 30 minutes.
Bake: Preheat oven to 375°F (190°C). Bake the cinnamon rolls for 22-25 minutes, or until golden brown and cooked through.
Glaze: While the rolls are baking, whisk together the milk, powdered sugar, and cinnamon to make the glaze.
Serve: Drizzle the glaze over the cooled cinnamon rolls and serve warm or at room temperature.
